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Citigroup Newsroom
Signals of Trump 2.0 going for deregulation? The Vice Chairman of the Federal Reserve in charge of financial regulation will resign early after Trump takes office.
According to the Federal Reserve's statement, Barr's resignation will take effect no later than February 28, and he will continue to serve as a Federal Reserve Governor until the term ends. The statement implies that he is stepping down as Vice Chairman of Supervision more than a year early to avoid potential legal disputes with the Trump administration. The media reports that Barr's decision does not indicate that Powell will also step down from the position of Federal Reserve Chairman early, but it casts a shadow over the prospects of the USA implementing new banking regulations that increase capital requirements.
Express News | Citigroup predicts that non-farm employment growth will slow down in December, and the unemployment rate will rise.
To avoid potential conflicts with the Trump administration, the Vice Chairman of the Federal Reserve responsible for bank supervision has resigned.
Michael Barr, the Vice Chairman of the Federal Reserve responsible for bank regulation, will resign from this position on February 28.
Citigroup Options Spot-On: On January 6th, 126.86K Contracts Were Traded, With 2.22 Million Open Interest
On January 6th ET, $Citigroup(C.US)$ had active options trading, with a total trading volume of 126.86K options for the day, of which put options accounted for 44.43% of the total transactions, and
Express News | Truist Securities has given Citigroup an initial rating of Buy, with a Target Price of $85.
Barr resigned from the position of Vice Chairman for Bank Supervision at the Federal Reserve, and there are uncertainties regarding the capital reform regulations.
Michael Barr, the Vice Chairman responsible for bank regulation at the Federal Reserve, plans to resign from this position to avoid potential conflicts with incoming President Trump. With his departure, the future of the new capital rules for Bank of America is in question. The Federal Reserve stated on Monday that Barr plans to step down on February 28 unless his successor is confirmed beforehand. He will continue to serve as a member of the Federal Reserve Board. Barr stated, "The Vice Chairman for bank regulation was established after the Global financial crisis to enhance the Federal Reserve's transparency and accountability in financial system oversight, and the risk of controversy surrounding this position may distract us from making..."
Citigroup Unusual Options Activity
European stock markets saw the largest increase in over a month, boosted by Technology, Autos, and Luxury Goods stocks.
As investors weigh Donald Trump's tariff plan, European stock markets posted their largest gain in over a month, boosted by the Technology, Autos, and Luxury Goods Sectors. The Stoxx 600 Index closed up 1% in the London market, with the Autos and Luxury Goods Sectors jumping, after the Washington Post reported that Trump's aides were considering a tariff action that would be weaker than expected. However, Trump quickly refuted the news on Truth Social. "Caution is necessary, as Trump may have different statements at any time," said the head of sales trading at Saxo Banque France.
Why Bank Stocks Care That Michael Barr Is Stepping Down as Top Fed Banking Cop
Bank stocks in the USA have risen as Barr stepped down as vice chairman, which heightened expectations for regulatory easing.
The KBW Banks Index rose by as much as 2.2%, reaching its highest intraday level since December 16, after the Federal Reserve announced that Michael Barr would resign as Vice Chair for Supervision, effective February 28 or an earlier date when a successor is confirmed. Recommended reading: Adam Crisafulli of Vital Knowledge wrote, "Barr is seen as an advocate for strengthening Industry regulation and capital rules, and his departure from the banking regulatory position is a positive development."
Express News | S&P 500 Banks Index Jumps 1.9%
Express News | Goldman Sachs up 2.2%, Morgan Stanley Gains 3.1%
Express News | JPMorgan Chase up 1.4%, Bank of America Climbs 2.9%, Wells Fargo Rises 2.4%
Express News | Shares of Major US Banks Rise; Fed Vice Chair for Supervision Michael Barr to Resign Early
Express News | Smithfield Foods has submitted IPO documents in the USA, with Citigroup, UBS Group, BNP Paribas, and HSBC serving as underwriters for the IPO.
Citigroup's Stock Is a Banking-sector Bargain as 'Inflection Point' Looms, Analyst Suggests
Today's Analyst Rating | Wells Fargo Downgrades T-Mobile US to Hold, Barclays Cuts Its Price Target Cut on Adobe to $567
Jan 6, Wall Street analysts have updated their stock ratings today including $T-Mobile US(TMUS.US)$ and $Adobe(ADBE.US)$.
This Analyst With 85% Accuracy Rate Sees Around 16% Downside In Tesla - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts
Citigroup Price Target Raised to $95.00/Share From $70.00 by Barclays
Barclays Upgrades Citigroup(C.US) to Buy Rating, Raises Target Price to $95